USHA MARTIN Announces Quarterly Results (1QFY20); Net Profit Down 1177.1%

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USHA MARTIN Announces Quarterly Results (1QFY20); Net Profit Down 1177.1%
Mon, 29 Jul

USHA MARTIN has announced its results for the quarter ended June 2019. Here is a detailed performance review of the same:

USHA MARTIN Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-18*
3
Mar-19*
3
Jun-19*
QoQ ChangeYoY Change
Net SalesRs m13,8426,2675,597-10.7%-59.6%
Other incomeRs m6056235320.0%290.7%
TurnoverRs m13,9026,3235,833-7.8%-58.0%
ExpensesRs m11,5165,4245,065-6.6%-56.0%
Gross profitRs m2,320843533-36.8%-77.0%
DepreciationRs m7921511520.7%-80.9%
InterestRs m1,472327240-26.5%-83.7%
Profit before taxRs m116422376-10.9%224.4%
TaxRs m2-2,3181,606100256.3%
Profit after taxRs m1142,740-1,230-144.9%-1177.1%
Gross profit margin%16.813.59.5
Effective tax rate%1.4-549.9427.5
Net profit margin%0.843.3-21.1
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster


Year-on-Year Performance:
  • The company's operating income during the quarter fell 59.6% on a year-on-year (YoY) basis. The expenses were down by 56.0% YoY during the same period.
  • The company's operating profit declined by 77.0% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 9.5% in 1QFY20 as against 16.8% in 1QFY19.
  • Depreciation charges declined by 80.9% and finance costs declined by 83.7% YoY, respectively.
  • Other income increased by 290.7% YoY during the quarter.
  • Net profit for the quarter declined by 1177.1% YoY. Net profit margins during the quarter declined from 0.8% in 1QFY19 to -21.1% in 1QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 10.7% on a quarter-on-quarter (QoQ) basis. The expenses were down by 6.6% QoQ during the same period.
  • The company's operating profit declined by 36.8% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 9.5% in 1QFY20 as against 13.5% in 4QFY19.
  • Net profit for the quarter declined by 144.9% QoQ, while net profit margins declined from 43.3% in 4QFY19 to -21.1% in 1QFY20.

To see how USHA MARTIN has performed over the last eight quarters,please visit here.

USHA MARTIN Share Price Performance

Over the last one year,USHA MARTIN share price has moved up from Rs 25.8 to Rs 30.3, registering a Gain of Rs 4.5 or around 17.5%.

Meanwhile, the S&P BSE METAL Index is trading at Rs 9,831.1 (down 2.4%). Over the last one year it has moved down from 12,511.1 to 9,831.1, a gain of 2,680 points (down 21.4%).

Overall, the S&P BSE SENSEX is up 2.3% over the year.

Current Valuations

At the current price of Rs 30.3, the price to earnings (P/E) ratio of USHA MARTIN stands at 4.4 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 1.3 times.

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For the quarter ended March 2019, USHA MARTIN has posted a net profit of Rs 3 bn (up 2078.0% YoY). Sales on the other hand came in at Rs 6 bn (down 52.5% YoY). Read on for a complete analysis of USHA MARTIN's quarterly results.

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